L3Harris Technologies Inc $LHX Shares Purchased by Kingsman Wealth Management Inc.

Kingsman Wealth Management Inc. grew its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 237.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,409 shares of the company’s stock after purchasing an additional 2,400 shares during the period. Kingsman Wealth Management Inc.’s holdings in L3Harris Technologies were worth $1,041,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of L3Harris Technologies by 0.5% during the second quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock valued at $5,811,973,000 after buying an additional 121,619 shares during the period. State Street Corp boosted its holdings in shares of L3Harris Technologies by 1.2% during the second quarter. State Street Corp now owns 8,874,482 shares of the company’s stock worth $2,226,075,000 after purchasing an additional 105,402 shares during the last quarter. Geode Capital Management LLC grew its position in shares of L3Harris Technologies by 0.8% in the second quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock valued at $1,236,410,000 after purchasing an additional 38,820 shares during the period. Bank of New York Mellon Corp increased its stake in L3Harris Technologies by 52.3% in the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares during the last quarter. Finally, Boston Partners lifted its position in L3Harris Technologies by 72.1% during the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after buying an additional 838,546 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at approximately $43,479,447.30. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LHX. Truist Financial upped their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. UBS Group upped their price target on shares of L3Harris Technologies from $318.00 to $323.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. BNP Paribas raised shares of L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. BNP Paribas Exane assumed coverage on L3Harris Technologies in a report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.50.

L3Harris Technologies Stock Down 0.2%

Shares of L3Harris Technologies stock opened at $295.19 on Wednesday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The stock has a market cap of $55.22 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 2.15 and a beta of 0.65. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average price of $287.00 and a 200 day moving average price of $278.50.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. L3Harris Technologies had a return on equity of 11.08% and a net margin of 8.09%.The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, November 17th. L3Harris Technologies’s payout ratio is presently 51.56%.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.